Brokerages Set Verra Mobility Corp (NASDAQ:VRRM) Price Target at $7.00

Shares of Verra Mobility Corp (NASDAQ:VRRM) have been assigned a consensus rating of “Reduce” from the ten analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $7.00.

Several analysts recently weighed in on VRRM shares. William Blair lowered Verra Mobility from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 27th. Zacks Research upgraded Verra Mobility from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Robert W. Baird lowered their price target on Verra Mobility from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Morgan Stanley set a $5.00 price target on Verra Mobility in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. upgraded Verra Mobility from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $5.00 to $6.00 in a research note on Monday, July 13th.

Verra Mobility Stock Performance

VRRM opened at $3.54 on Thursday. Verra Mobility has a 12-month low of $3.40 and a 12-month high of $25.45. The company has a debt-to-equity ratio of 4.58, a current ratio of 2.06 and a quick ratio of 1.96. The stock has a market capitalization of $538.01 million, a PE ratio of 13.62 and a beta of 0.38. The firm’s fifty day moving average price is $4.40 and its 200 day moving average price is $8.83.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. The company had revenue of $263.59 million during the quarter, compared to analyst estimates of $254.81 million. Verra Mobility had a net margin of 4.40% and a return on equity of 64.39%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the business earned $0.34 EPS. As a group, research analysts expect that Verra Mobility will post 1.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd grew its position in shares of Verra Mobility by 967.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,260 shares of the company’s stock valued at $28,000 after buying an additional 1,142 shares during the last quarter. HB Wealth Management LLC acquired a new position in Verra Mobility in the second quarter valued at approximately $43,000. Versant Capital Management Inc boosted its stake in Verra Mobility by 190.4% in the second quarter. Versant Capital Management Inc now owns 10,378 shares of the company’s stock valued at $44,000 after acquiring an additional 6,804 shares during the period. GAMMA Investing LLC grew its holdings in shares of Verra Mobility by 34.1% during the second quarter. GAMMA Investing LLC now owns 11,142 shares of the company’s stock valued at $47,000 after purchasing an additional 2,832 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Verra Mobility during the second quarter valued at approximately $65,000.

Verra Mobility Company Profile

Verra Mobility Corp. (NASDAQ:VRRM) is a technology company that provides smart mobility and transportation safety solutions to government agencies, commercial fleets, rental car companies and parking operators. Its platform is designed to help organizations manage vehicles, roadways, parking operations and transportation-related compliance.

Through its Government Solutions business, Verra Mobility provides automated traffic-enforcement systems and related services, including red-light, speed and school-zone enforcement, school-bus stop-arm safety programs, toll and violation processing, and other camera-based roadway safety technologies.